Chandigarh 27 March: Dr IT Group of Institutes, Banur organised 11th National Conference & Business Summit, 2018, on “GST and issues involved in implementation and its Impact”. Out of many research papers received, 37 were approved and 23 presentations were made.
Shri Rajeev Bhalla, former Judge of Punjab & Haryana High Court was the Chief Guest . He was of the view that GST cannot function in a federal structure and will ultimately prove a disaster. He added that implementation could not be smooth and easy and would require numerous changes and notifications time and again.
Professor (Dr.) A. K. Vashisht of UBS, in his keynote address touched upon all operational and policy dimensions and also discussed teething troubles in its implementation. He was of the view that government agenda in implementing GST seems to be good governance, removing corruption from the system and to ensure financial stability.
Professor Karamjit Singh of UBS said “after demonetisation of high value currency notes, GST is another bold step taken by the Government. He stressed upon the need of making GST’s implementation smooth and procedure simple by removing uncertainty and unpredictability.
Mrs. Deepti Mahajan Batra, CEO of Dr IT Group, welcomed the dignitaries and said that GST has been responsible for downward trend in industry and business and it will take a long time for the economy to come up.
CA Rajiv Arora said that GST is replacement of many taxes and it supports the theory ‘one country, one tax’ which is going to help growth of economy and bring forth many other benefits. He discussed the implementation difficulties and inadequate awareness of technicalities of GST with tax payers.
CA Alok Krishan presented data and explained that compliance is tardy due to difficulties faced by the businesses. He said that mindset of tax payers and consumers has to change to accept this big change which is going to increase GDP growth and improve standard of living of the masses in the long run. He also said that there were as many as 112 returns required to be files before GST and now the number is reduced to 36. New system carries new challenges and initial resistance but as time passes, people will get used to the big change.
Professor P. Parkash Arya, Managing Director of Dr IT Group of Institutes, briefed the audience about the theme of the Conference and said that GST would be useful in case it enables the economy to grow at a faster rate and check inequalities of income and corruption, otherwise, there would be no difference in the earlier system and the GST. The tendency of Indians not to comply with tax payment laws may also fail the GST system.
Dr. Sukhbir K. Dhillon summed up the proceedings and proposed vote of thanks.
Presentations made were followed by discussions and interactions in the technical session presided over by Prof. K. C. Sharma. and Professor P. Parkash Arya Managing Director, Dr IT Group of Institutes, Banur Campus (KNB)